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November 2017 Archives

Identifying the value of Chapter 7 bankruptcy

For many Americans, debt is a real and pressing concern in their day-to-day lives. Here in Connecticut, many families carry a variety of debt, the most troubling being unsecured credit card debt, which can be notoriously difficult to pay down due to high interest rates. For those in dire straits, Chapter 7 bankruptcy could be a viable alternative, but it is important to understand what such a filing entails. 

More senior citizens file for Chapter 7 bankruptcy

There has been a rise over the last few years of senior citizens filing for bankruptcy. Here in Connecticut and elsewhere in the nation, more and more people over the age of 65 are using Chapter 7 bankruptcy as a way to offset mounting debts that can result from a variety of sources unique to the elderly. In many cases, seniors have reported a definite upward trend in their quality of life once they are out from under the burden of unsustainable debt. 

Paying down credit cards sometimes involves debt relief

Far and away, one of the most challenging debts to overcome is credit card debt. Connecticut households, like most American households, carry an average of $18,000 in credit debt alone, which can be a daunting task to pay down for even the most frugal individuals. Thankfully, there are debt relief strategies available, though which one is best for a given situation can vary based on the individual or family involved. 

How to effectively exercise debt relief

For many people, debt is a major issue in their day-to-day lives. Connecticut residents seeking debt relief, particularly for unsecured debts like credit cards, have several options available to them. From consolidation plans to Chapter 7 bankruptcy, there is a solution for every debtor depending on his or her particular circumstances. 

Seeking debt relief for credit card debt

Credit card debt can be one of the most daunting types of debt to overcome. Connecticut residents seeking debt relief understand how difficult it can be to get out from under thousands, and sometimes tens of thousands of of dollars in credit card debt. Thankfully, there are a variety of options available to individuals who find themselves deeply in debt, from debt management to Chapter 7 bankruptcy.